You AUDIT Do It!!!!

If you want to secure money, make sure you have an AUDIT

I am working with non profit organizations and the number one issue that always comes up that either stops or delays their funding request is there is NO AUDIT.

Grant Writing Researching Meeting

What Is An Audit?

That's a great questions, I am so glad you asked. "the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure financial compliance to requirements." Most non profit organizations do not have the audit, but most, like 97% of funders require an audit as part of their required documentation to even apply for funding. If you do not have a current audit, you cannot even apply for the funding. I do not see this issue with my for-profit clients. I am sure it is because of the disposable income. Most non-profits do not have the extra money to pay for an audit, or because they don't have the staff to keep up with the yearly audit.

While all of these reasons are valid, the lack of a current audit can be the difference in your organization getting a new building or not. Your organization getting more employees or not. Your organization being of service to your community or not. Your organization must have an audit because it let's the funders see you are financially competent with your organization.

In Closing,

Whether you are non-profit or for-profit, you must get an audit every year. You should have a CPA(certified public account) do your audit. Here are the reasons to get an audit yearly:

• Identifying weaknesses in internal controls.

• Identifying where profitable changes can be made.

• Lends credibility to financial statements.

• Educates business owners.

• Increases stakeholder confidence.

If you need help with making sure you have a current audit, including all the other required documents to apply for grant funding contact me NOW https://www.capetryllc.com/grant-writing-services